America’s Housing Shortage Is Still Getting Worse
A new report confirms something those of us working in housing already know firsthand: the United States simply isn’t building enough homes. Not for renters. Not for first-time buyers. And especially not for lower-income households. According to the National Low Income Housing Coalition’s latest annual report, the country is short 7.2 million affordable and available rental homes for very-low-income renters—those earning less than 30% of their area’s median income. For every 100 households in that income bracket, there are only 35 affordable units available. That shortage forces millions of families into impossible tradeoffs. Many become severely cost-burdened, spending such a large share of their income on rent that saving for homeownership—or even financial stability—becomes unrealistic. But the shortage doesn’t stop there. It’s part of a much larger structural problem in the housing market. The National Housing Gap Has Surpassed 4 Million Homes Separate research ...